With the market currently in danger, Ethereum whales are seeing this as an opportunity to add more cryptocurrencies to their portfolios. Altcoins have taken the biggest hit in the market and hence the focus of these whales who see these tokens at a discount. They focus on Whales Decentraland (MANA) and a range of tokens.
Ethereum whales are still bulls in Shiba Inu
ETH whales are mostly bulls in Shiba Inu, as we have mentioned in the news of Cryptokoin.com it happened. With their massive purchases, they have single-handedly managed to keep the meme money in the minds of the broader crypto market, safe for the occasional hype-backed recoveries. Now, even as the market is down and the Shiba Inu continues to drop, the whales continue to buy.
In the list of 10 most bought tokens, Shiba Inu (SHIB), Tether (USDT) and USD Coin (USDC) ranked fourth after stablecoins, and ETH naturally took the lead. On average, whales purchased 2,256,645,536 SHIB tokens. This equates to an average of $35,888 spent by whales on SHIB.
The meme coin also remains the largest token position behind ETH by dollar value. Although their whale balances have dropped over the past few weeks, they still hold more than $809 million in SHIB in their aggregate balance. This means that over 15% of all SHIB tokens are held in the top 100 ETH wallets.
LINK, MANA tokens are also on the list of whales
Cryptocurrencies, which lost a significant part of their all-time high values, continue to be preferred by Ethereum whales. Tokens like LINK and MANA also made it to the list of top 10 cryptocurrencies bought by these whales in the last 24 hours. What these two tokens have in common is that they both lost more than 80% of their ATH value.
Ethereum whales bought LINK tokens for an average of $9,839 and MANA tokens for an average of $7,328, placing them 5th and 6th on the list, respectively. Interestingly, none of these tokens appear in the top 10 holdings of these whales. Other tokens making the list are KNC, GALA, WOO and the new market favorite APE.
NFTs were also not excluded from accumulation trends. With the price of ETH falling in the last two days, the floor price of some high value NFTs has dropped and whales are starting to sweep them. Moonbirds and DOODLE are clearly among the favourites.
